abrdn plc Invests $22.93 Million in Knife River Co. (NYSE:KNF)

abrdn plc acquired a new stake in Knife River Co. (NYSE:KNF) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 256,556 shares of the company’s stock, valued at approximately $22,934,000.

Several other hedge funds have also recently bought and sold shares of KNF. State of Alaska Department of Revenue lifted its holdings in Knife River by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,556 shares of the company’s stock worth $586,000 after buying an additional 445 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Knife River by 27.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,908 shares of the company’s stock valued at $618,000 after acquiring an additional 1,467 shares in the last quarter. Legacy Wealth Asset Management LLC purchased a new position in Knife River in the third quarter valued at $254,000. Ausbil Investment Management Ltd grew its stake in Knife River by 599.5% during the 3rd quarter. Ausbil Investment Management Ltd now owns 19,579 shares of the company’s stock worth $1,750,000 after purchasing an additional 16,780 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Knife River by 12,902.2% during the 3rd quarter. International Assets Investment Management LLC now owns 71,512 shares of the company’s stock worth $6,392,000 after purchasing an additional 70,962 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer boosted their price objective on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.60.

Knife River Trading Down 1.8 %

NYSE:KNF opened at $97.32 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.49 and a current ratio of 2.51. Knife River Co. has a 1 year low of $48.67 and a 1 year high of $99.54. The stock has a market cap of $5.51 billion, a P/E ratio of 28.05, a P/E/G ratio of 2.26 and a beta of 0.82. The stock has a 50-day simple moving average of $86.80 and a 200-day simple moving average of $78.55.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.24 by $0.13. The company had revenue of $806.90 million for the quarter, compared to analyst estimates of $803.81 million. Knife River had a net margin of 6.88% and a return on equity of 15.73%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 earnings per share. As a group, analysts anticipate that Knife River Co. will post 3.72 earnings per share for the current fiscal year.

About Knife River

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.